Charity reglstratlon number 1113830 Company reglstration number 05695208 Walton Firs Foundation Financial Statements For The Year Ended 31 January 2024
Walton Firs Foundation Contents Page Legal and adminslralive information Chairman's report Trustees, report Independent examinerfs report Slatemenl of financial activities Summary income and expenditure account Statement of financial position 10 Stalement of cash flows 11 Notes to the financial statements 12-24
Walton Firs Foundation Legal And Administrative Information Trustees Rob Woolford David Gardner Geoff Card Benita Middleton David Lewis Andrew Webster Alan Parker CBE Secretary Julia Wigram Charlty number 1113830 Company number 05695208 Princlpal address Walton Firs Activity Centre Convent Lane Cobham Surrey KT11 1HB Reglstered offlce Dixcart House Addlestone Road Bourne Business Park Addleslone Surrey KT15 2LE Independent examlner Ward Williams Chartered AGcountanls Belgrave House 39-43 Monument Hill Weybridge Surrey KT13 8RN
Walton Firs Foundation Legal And Administrative Information Patrons Rosemary Dane Rob Douglas CBE DL Sa15y Ford Mark Gardner Martin Gerrard QPM DL John Glendinning Reverend Gregory Hargrove Andrew Hobbs Nick Kates Elizabeth Kennedy Peter Lankester Alistair Mann Grayham Moon Michael Moore Mike Pain Cliff Palmer Tim Perry Derek Pollard OBE Priscilla Robinson Joe Rogerson Michael Slorick Ashley Tilling Marion Wadley John Woodhead
Walton Firs Foundation Chairman's Report For the year ended 31 January 2024 In the year under review we have seen some further progress on the developmenl of activities at Walton Firs for young people but not at the same rale of growth as the previous year, since customer demand was lower than anticipaled and whilst there was growth in income it was below Ihe anticipated level. Going forward, however, we are optimisti¢ that much will progress and our slaffing to deal with the organisational procedures and management of the activities onsite reflects this expectation. The mid-week revenue providing outdoor educational activities for schools continues to grow and will hopefully help to maintain the level of cost of participation in activities at Walton Firs at the reasonable cost level presently enjoyed by the voluntary organisalions at the weekends. We have recently signed an agreement with Burhill, our neighbours at Walton Firs. to make availab additional land for activities providing further outslanding experiences of self-reliance and team building exercises for a greater number of young people. This does of course increase the need for additional instructor support and whilst we have moved from one warden employed when we bought the Activity Centre to a figure of more than 15 instructors now, we can see that going fOard more help and overview wi51 be required. Our plans this year also include the replacement of the Pembroke building, which we hope lo commence at the end of the season, with the need for us to raise quite a substantial amount of money. The help of everybody in putting this togelher will be important. The old building which will resurrect as the Wilman building was put up at Walton Firs 50 years ago once this second-hand building was able to be moved from Pembroke Dock in Wales after the completion of the new facility there. It is therefore past its sell by date and we look fotward to providing a much more acceptable level of quality accommodation. 11 has been a wonderful year at Walton Firs of conlinued growth and the team at Walton Firs are very enthused with all the progress and facilities that we are continuing to expand for the enjoyment and experience of young people. As ever, much of our thanks and acknowledgement must go to the on51te team working to ensure that everything happens and everything that we are finally able to pul together works effectively, so that the experience of ting in these activities is very much enjoyed by the young people who join us at Walton Firs. Our thanks to all of those who 5UPPOrt us, both onsite and externally in providing consulting help and financial input. e a fantastic year for Walton Firs in anticipation of the interesting and substantial projects being stgo e that il will ken. unde Rob Woolford Chairman
Walton Firs Foundation Trustees, Report (Including Directors. Report) For the year ended 31 January 2024 The trustees presenl their annual report and financial statements for the year ended 31 January 2024. The financial statements have been prepared in accordance with Ihe accounting policies set out in note 2 to the financial statements and comply with the charity's Articles ofAssociation, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ObjectSves and actlvltles The objective of the Foundation is to hold, improve and maintain the Walton Firs Activity Centre in Cobham, Surrey, for the use and enjoyment of continuing generations of young people. In operating Ihe Activity Centre the intention is to provide outdoor, educational and training activily facilities for all groups of young people. The trustees have paid due regard to guidance issued by the Charity Commission in deciding whal activities Ihe charity should undertake. Achievements and performance The Centre continues in its aim to provide recreational outdoor activities and facilities for the use of its traditional users in the voluntary youth sector and in addition the educational sector mid-week. The Foundation is determined to expand on its education and environmental objectives. The site provides a low cost seTvice to its users, whilst, at the same lime, aiming to make a surplus. which is reinvested in improving the quality of the site and the funding of new projects. Visitor numbers remain stable during the year however the number of individual groups booking activities and accommodation showed a modest increase. The Centre continues to provide daily facilities to two pre-school age outdoor Forest Schools throughout the year. Financial review Income from the Foundation's charitable activities increased over the year to £578,624 (£528,195 for 2023). £254,500 of the income received was from activity programmes delivered by the Centre's leam of instructors, the balance from camping, residential use of accommodation buildings and day use of the centre's facilities. Utility supply costs, employee costs and general inflationary pressure over the year resulted in the centre generating a loss of £26,225 for the year (profit of £39,002 in 2023). Rental income from the telecom mast siluated on Foundation land contributed £26,6001£26,600 in 2023). The governance costs of Walton Firs Foundation were £65,796 (£48,367 for 2023) of which £64,046 were professional services donated by our supporters. During the year we received donations and legacies totalling £97,278 {£11,620 for 2023>. The Foundation has been helped over the period since the pandemic by a very generous legacy from an ex-director and patron Mr Richard Shortman with the final sum of £60,803 received during the financial year. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at Ihis level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's Current activities while consideration is given lo ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have assessed the major risks to which the charity is exposed, and are satisfied Ihat systems are in place to mitigate exposure to the major risks.
Walton Firs Foundation Trustees. Report (Including Directors, Report) (Continued) For the year ended 31 January 2024 Plans for future periods The trustees of Walton Firs Foundation are committed to develop further the range of recreational outdoor activities and outdoor education provision at the Centre, and lo promote environmental awareness amongst the young visitors. To this end trustees have reached agreement with Burhill Estates to make available addl1)nal land increasing the site to 50 acres, the additional land will assist greatly the aims of the Foundation in the coming year. Planning consent was granted in November for the replacement of the Pembroke Hut to provide quality indoor accommodation for groups of 36 young people and leaders. This development is in the final stages of design and will provide environmental improvements to the Centre's facilities including solar power, this will also provide the Centre with cost savings within it's electrical power demand. Work to improve Ihe entrance driveway to Ihe Activity Centre and construction of a coach parking area was completed in March 2024. A new kitchen facility to provide catering for school groups laking part in outdoor activities on the site was completed in January 2024 and will be a welcome addition to the facilities over the coming year. structure, governance and management The struclure of Walton Firs Foundation is a company limited by guarantee, incorporated on 2 February 2008 and established to hold, improve and maintain the Walton Firs Activity Centre in Cobham. The governing document of the Foundation is the Articles ofAssociation adopted on 8 June 2019. The governance is by the board of directors who are also the trustees of the Foundation. No policy for the induction and training of new trustees has been adopted. In order to review the actions of the directors and trustees, a body of experienced and enthusiastic individuals, known as the member patrons, has been appointed. The member patrons have the right to question the directors on their actions and, if considered necessary, replace the directors. Walton Firs is a company limited by guarantee. The member patrons are also the shareholders who have guaranteed that they will pay £10 each in the event of the guarantee being called. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Rob Woolford David Gardner Geoff Card Benila Middleton Peter Hanna David Lewis Andrew Webster Alan Parker CBE (Resigned 3 June 2023) Funds held as custodian trustee Reserves are needed lo bridge the gap between Spending and receiving of income, particularly as income is seasonal, and to cover unplanned emergency repairs and other expenditure.
Walton Firs Foundation Trustees, Report (Including Directors. Report) (Continued) For the year ended 31 January 2024 Rlsk management The directors and trustees have identified areas of operational risk covering specific poinls, both within and oulside the remit of that covered by current health and safety and child protection legislation. The objective being to provide safe environment for the young people, volunteers and staff using the Activity Centre and to also provide insurance cover against any unexpected loss. The Foundation holds a community risks insurance policy which encompasses cover for public liability, employerfs liability, and personal accident cover for volunteer instructors. Business interruplion and trustee indemnity cover are also held. The Foundation budgets to make an operational surplus each year and Ihe actual results are closely monitored against the budget. Capital expenditure is not authorised until funds are committed or in place to pay for the expenditure. The Foundation holds an operational reserve from year to year in case of unexpected calls on its financial resources. Publlc benefit The Aclivity Cenlre is open lo groups of all young people without restriction. Fees are charged for activities lo cover immediate running costs of the Activity Centre and these do not unduly restrict altendance. One of the key aims of the Foundation that demonstrates its public benefit is that through the Activity Centre young people are provided with outdoor, educalional and training facilities Ihat help them develop their full potential. The trustees, report was approved by the Board of Truslees. ulia Wigram Company secretary David Trustee
Walton Firs Foundation Independent Examiner's Report To The Trustees Of Walton Firs Foundation I report to the trustees on my examination of the financlal statements of Walton Firs Foundation (the charity) for the year ended 31 January 2024. Responslblllties and basis of report As the trustees of the charity (and also its directors for the purposes of company law> you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 201A (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audiled under Part 16 of Ihe 2006 Act and are eligible for independent examination, I report in respect of my examination of the charily's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5J(b) ofthe 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ACCA. which is one of the listed bodies. I have completed my examination. I confirm that no rnalters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or Ihe financial statements do not accord with those records., or the financial statements do not comply with the accounting requiremenls of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charilies applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK a1 Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial statements to be reached. Frank Harling Ward Wllllams Chartered Accountants Belgrave House 39-43 Monument Hill Weybridge Surrey KT13 8RN Dated. ..14..lo& l.Ik7
tx) IJ) ) to ¢5) v (Q tr- <n Z5 In ** a¥ O * Cfjtr- (o fD a)
Walton Firs Foundation Summary Income And Expenditure Account For the year ended 31 January 2024 All Income funds 2024 2023 Gross income Transfer to endowment funds 759,523 (37,482) 635,834 {106,429) Total income in the reporting period 722,041 529,405 Total expenditure from income funds 647,243 525,230 Net Income for the year 74,798 4,175
Walton Firs Foundation Statement Of Financial Position As at 31 January 2024 2024 2023 Notes Fixed assets Tangible assets 14 1,780,814 1,695,316 Current assets stocks Debtors Cash at bank and in hand 15 16 6,412 29,028 252,453 2,023 44,707 195,645 287,893 242,375 Credltors: amounts falling due withln one year 17 {160,4641 1115,081) Net current assets 127,429 127,294 Total assets less current Ilabilitles 1,908,243 1.822,610 Credltors: amounts falllng due after more than one year 18 (15,882) Net assets 1,908,243 1,806,728 Capltal funds Endowment funds- general Income funds Restricted funds Unrestricted funds 22 1,590,950 1,564,233 19 20 88,479 228,814 29,339 213,156 1,908,243 1,806,728 The notes on pages 12 to 24 form part of these financial slatements. The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 January 2024. The directors acknowledge their responsibilities for complying wilh the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in acco nce with section 476. ese othe nancial statements have been prepared in accordance with the provisions applicable to cornpanies subject mall companies regime. Th Inancial slalements were approved by the Trustees on Woolfor Truste David Gar Trustee Company reglstratlon number 05695208 10-
Walton Firs Foundation statement Of Cash Flows For the year ended 31 January 2024 2024 2023 Notes Cash flows from operating actlvities Cash generated from operations 26 190,689 121,709 Investlng activltles Purchase of tangible fixed assets Inveslment income received {135,998) 2,117 (102,611) 46 Net cash used in investing a¢tlvlties (133,881) (102,565) Net cash used In flnancing actlvities Net increase In cash and cash equivalents 56,808 19,144 Cash and cash equivalents at beginning of year 195,645 176,501 Cash and cash equivalents at end of year 252,453 195,645 The notes on pages 12 to 24 form part of these financial statements. 11
Walton Firs Foundation Notes To The Financial Statements For the year ended 31 January 2024 General Informatlon Walton Firs Foundation is a private company limiled by guarantee incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE. Accounting policies 2.1 Accounting convention The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102.) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019}. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cosl convention. The principal accounting policies adopted are set out below. 2.2 Golng concern The directors are of Ihe view thal continuing measures to monitor operating cosls and ongoing cash flow requirements have secured the future of the Foundation for the foreseeable future and that on this basis the charity is a going concern. 2.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of Ihe restricted funds are set out in the notes lo the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be mainlained by the charity. 2.4 Incorne Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Voluntary income including donations, gifts and legacies and grants that provide Core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when: the donor specifies that the grant or donation must only be used in future accounting periods., or the donor has imposed conditions which must be met before the charity has unconditional entitlement. Gift Aid recoverable is included within the same category of income to which the Gift Aid claim relates in the same period In which that income is recognised. 12-
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 Accounting pollcies {Contlnued) Volunteers and donated services, goods and facllltles The value of services provided by volunteers is not incorporated into these financial statements. Where services or goods are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimale based on the value of the contribution to the charity. Donated services include audit, legal and professional fees. Donated goods includes building materials and office equipment. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Imiere the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Vvhere the grant does impose specified future performance-related conditions on the recipient, il is recognised in income only when the performance-related conditions have been met. Where granls reiVed are prior to satisfying the revenue recognition criteria, they are recognised as a liability. other income Income from telecomrnunicalions masts is accounted for on a receivable basis. Rent free periods and premiums are spread equally over the life of Ihe lease. Income from commercial Irading activities is recognised as earned when the related goods and services are provided. Inveslment income is recognised on a receivable basis. 2.5 Expenditure Expenditure is reGognised on an accruals basis as a liabilily is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils Charitable aims for the benefit of its beneficiaries, including those support costs and Costs relating to the governance of the charity apportioned to charitable activilies. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 13-
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 Accountlng pollcles (Contlnued) 2.6 Tangible flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Land and buidlings Activity centre equipment Fixtures and fittings Computer equipment 2 %-10tt/o Straight line 2.5 %-20 % straight line 10 /0-200/0 Straight line 33.3 % straighl line Freehold land is not depreciated. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of Ihe asset, and is recognised in the statement of financial activities. 2.7 Impairment of flxed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order lo determine the extent of the impairment loss. 2.8 stocks stock is included at the lower of cost or net realisable value. Stock includes souvenir items available for sale. 2.9 Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks. 2.10 Flnanclal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instrumenls are classified and accounted for, according to the substance of Ihe contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract Ihat evidences a residual interest in the assets of the Gompany after deducting all of its liabilities. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Basic financial Ilabilities Basic financial liabilities including Greditors are initially reGognised at transaction price. Financial liabilities classified as payable within one year are nol amortised. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. 14-
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 Accountlng pollcles (Contlnued) 2.11 Employee beneflts The cost of any unused holiday entillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charily is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 2.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 2.13 Operating leases Rentals payable under operating leases, including any lease incentives received. are charged as an expense on a straight line basis over the term of the relevant lease. Crltlcal accounting estlmates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revislon affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 15-
zs 7) ¢ o) Z5 (Y 1>
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 Income from charitable activltles Unrestrlcted funds 2024 Unrestrlcted funds 2023 Actlvlty centre Activity centre operating income 578,624 528,195 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Shop income Telecommunications mast income 12,363 26,600 14,579 26,600 other trading activities 38,963 41,179 Income from Investments Unrestrlcted Unrestrlcted funds funds 2024 2023 Interest receivable 2,117 46 Expendlture on ralsing funds Unrestricted Unrestrlcted funds funds 2024 2023 Tradlng costs Activity centre shop 9,199 10,254 17-
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 Expenditure on charltable actlvlties Activity centre 2024 Actlvlty centre 2023 Dlrect costs staff costs Depreciation and impairment Activity centre operating costs 369,885 50,500 187,628 284,764 40,850 167,904 808,013 493,518 Share of support and governance costs {see note 10) Governance 65,796 48,367 673,809 541,885 Analysls by fund Unrestricted funds Restricted funds Endowment funds 633,615 4,429 35,765 511,581 3,395 26,909 673,809 541,885 Activity centre operating costs include donated services of £3,495 {2023: £8,177). 10 Governance costs 2024 2023 IT and communications Professional fees 1,028 62,518 5,652 40,465 Independent examiner's fees 2,250 2,250 65,796 48,367 Analysed between Charitable activities 65,796 48,367 Govemance costs include donated services of £64,046 {2023: £46.6171. 11 Trustees None of the trustees (or any persons connected with them} received any remuneration or benefits from the charity during the year. 18-
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 12 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Activity centre Administration 19 14 Total 24 18 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 341,923 21,784 6,178 263,484 16.637 4,643 369,885 284,764 There were no employees whose annual remuneration was more than £60,000. 13 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 14 Tangible flxed assets Land and buidlings Activity Flxtures and Computer centre fittings equipment equlpment Total Cost At 1 February 2023 Additions 1,701,939 98,554 19Jf,128 29,733 92,916 6,761 6,462 1,996,445 950 135,998 At 31 January 2024 1,800,493 224,861 99,677 7,412 2,132,443 Depreclation and impalrment At 1 February 2023 Depreciation charged in the year 159,270 30,262 81,933 11,027 55,117 8,368 4,809 843 301.129 50.500 At 31 January 2024 189,532 92,960 63,485 5,652 351,629 Carrying amount At 31 January 2024 1,610,961 131,901 36,192 1,760 1,780,814 At 31 January ?023 1,542,669 113,195 37,799 1,653 1,695,316 19-
Walton Firs Foundation Notes To The Financial Statements {Continued) For the year ended 31 January 2024 14 Tanglble flxed assets (Contlnued) The carrying value of land included in land and buildings comprises.. 2024 2023 Freehold 800,000 800,000 15 Stocks 2024 2023 Finished goods and goods for resale 6,412 2,023 16 Debtors 2024 2023 Amounts falling due wlthin one year: Trade debtors other debtors Prepayments and accrued income 17,345 3,144 8,539 35,504 543 8,660 29,028 44,707 17 Credltors: amounts falling due wlthin one year 2024 2023 other taxation and social security Trade creditors other creditors Accruals and deferred income 15,561 4,658 16,781 123,464 13,344 14,649 18,060 69,028 160,464 115,081 18 Credltors: amounts falling due after more than one year 2024 2023 other creditors 15,882 Creditors falling due within one year and after more than one year includes £15,882 {2023.' £32,882) of the lease premium received in January 2015 of £170,000, which is deferred over the 10 year life of the lease. -20-
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 19 Restrlcted funds The restricted funds of the charity comprise Ihe unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 February 2023 Incoming resources Resources expended Transfers At 31 January 2024 Activity Centre Equipment Telecoms Building Wilman Lodge Aeroball 10,541 15,166 1,397 2,235 {953) {3,476) {3,062} 57,425 4,792 (2.235) 6,526 69,115 12,838 6,649 29,339 6,649 (4,429) 56,920 88,479 Previous year: At 1 February 2022 Incomlng resources Resources expended Transfers At 31 January 2023 Activity Cenlre Equipment Telecoms Building Wilman Lodge Dick's ShedlRichard's Barn Aeroball 5,073 16,249 1,397 31,235 1,500 (2,312) (1,083) 6,280 10,541 15,166 1,397 1,515 196 2,235 (1,515) (31,431) 2,235 53,954 5,446 (3,395) (26,666) 29,339 20 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. Transfers At 31 January 2024 At 1 February 2023 Incomlng resources Resources expended General funds 213,156 752,874 (642,814) (94,402) 228,814 Previous year: At 1 February 2022 Incomlng resources Resources expended Transfers At 31 January 2023 General funds 184,366 630,388 1521,835) (79,763) 213,156 21
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 21 Analysls of net assets between funds Unrestrlcted funds 2024 Restrlcted Endowment funds funds 2024 2024 Total 2024 Fund balances at 31 January 2024 are represented by: Tangible assets 101,385 Current assetsl(liabilities) 127,429 88,479 1,590,950 1,780,814 127,429 228,814 88,479 1,590,950 1.908,243 Unrestrlcted funds 2023 Restrlcted Endowment funds funds 2023 2023 Total 2023 Fund balances at 31 January 2023 are represented by: Tangible assets 103,979 Current asselsl{liabilities) 125,059 Long term liabilities {15,882) 27,104 2,235 1,564,233 1,695,316 127,294 (15,882} 213,156 29,339 1,564,233 1,806,728 22-
OOLno
O Ln
Or W)(Oth)
om
coocry
U)0(%
oa)oNtr
o ¢X tr- O) ff)
ONCNOr
LQOOr
00)trn
Ov o In cr)
ow) Cr)
Walton Firs Foundation Notes To The Financial Statements (Continued) For the year ended 31 January 2024 23 Operating lease commitments Lessee At the reporting end dale the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows-. 2024 2023 Within one year Between two and five years 4,450 8,900 4,450 13,350 13,350 17,800 24 Capltal commltments Amounts contracted for but not provided in Ihe financial slatements: At the year end the Foundation had committed lo a project of resurfacing the entrance road and construction of a coach park. The works commenced in February 2024 for a proposed project fee of £62,033. 25 Related party transactlons There were no disclosable related party transactions during the year {2023 - none). 26 Cash generated from operatlons 2024 2023 Surplus for the year 101,515 83,695 Adjustments for- Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (2,117) 50,500 {46) 40,850 Movements in working capital.. (Increase)Idecrease in stocks Decreasellincreasel in debtors Increase in credilors {4,389) 15,679 29,501 3,214 (9,347) 3,343 Cash generated from operatlons 190,689 121,709 27 Analysls of changes in net funds The charity had no material debt during the year. 24-